Three persons were feared dead. Five people sustained serious burns.
Eight shops and two Sport Utility Vehicles (SUVs) were razed.
The incident occurred at Orogun Junction between 11am and 1pm.
An eyewitness, Dr. Ayo Osisanwo, said the Nigerian National Petroleum Corporation (NNPC) tanker exploded while trying to offload fuel from another tanker that fell.
Those injured were rushed to the hospital by the State Ambulance Service.
Fire Service men, who were called to the scene, ran out of water and waited for hours for supply.
Victims wailed uncontrollably as the fire spread to surrounding buildings.
There was a traffic gridlock and motorists were directed to a single lane.
Men of the Nigeria Civil Service Defence Corps (NCSDC) and the police were on the scene.
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